In order to meet the production threshold of two million barrels per day by 2024, the Nigerian National Petroleum Company Ltd. (NNPCL) has demanded a revision of the country’s security architecture.
Against the two million barrels per day objective set by the Organisation of Petroleum Exporting Countries (OPEC), the country now produces 1.67 barrels of oil and condensates.
Pius Akinyelure, the non-executive chairman of the board, told reporters that “our commitment is to produce at a rate of two million barrels per day, anytime from next year” following President Bola Tinubu’s Monday inauguration of the board at the presidential palace in Abuja.
Still, he bemoaned the fact that the goal could not be accomplished without first completely rethinking the nation’s security setup to deal with pipeline damage and other tactics used in oil theft.
“It is not an easy task, but we know we have the challenge of oil theft and pipeline vandalism,” said Akinyelure.
In order to decrease pipeline theft and vandalism, we must first revamp our security architecture.
And it’s possible that this may increase our cash flow. Additionally, our country will improve.
In order to help the nation “become number one in Africa and probably compete with leading oil and gas companies around the world,” the board chairman stated that the corporation would use key performance indicators specific to the oil industry.
After the inauguration, Dr. Eunice Thomas (Akwa Ibom), the lone female member of the NNPCL board, gave reporters assurances that they will collaborate to boost output, strengthen the economy, and develop sustainable green energy.
She expressed her gratitude to President Tinubu for the opportunity and mentioned that the board members are aware of his high standards, which she claimed they find difficult to satisfy.
“I really feel like I’m up against a lot, but first, I want to thank President Bola Ahmed Tinubu for considering me for that board seat.” I understand the difficulties and standards set by the board.
I support the NNPCL management; they have accomplished a great deal thus far, and I look forward to working with them to develop the economy, preserve the environment, and boost productivity.
“We shall supply Nigerians with electricity; we shall industrialise energy and switch from fossil fuels to more environmentally friendly, sustainable sources of energy.”
Inaugurated on Monday are Umar Ajiya, who holds the position of Chief Financial Officer; Non-Executive Directors include Dr. Eunice Thomas, Prof. Mustapha Aliyu, Mr. David Ogbodo, Mr. Musa Tumsa, and Mr. Ghali Muhammad.
